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- Title
Expectations of Large-Scale Asset Purchases.
- Authors
Foerster, Andrew; Cao, Guangye
- Abstract
The article presents results of the surveys of market participants, news articles, and Internet search which demonstrate that financial markets expected large-scale asset purchases (LSAPs) announcements before the U.S. Federal Reserve programs. It explains the event study approach and how it ignores the impact of expectations. It discusses the effects of expectations on interest rates before Federal Reserve announcements of recent asset purchase programs.
- Subjects
EVENT study (Finance); FINANCIAL market reaction; FINANCIAL markets; ASSETS (Accounting); INTEREST rates; BOARD of Governors of the Federal Reserve System (U.S.)
- Publication
Economic Review (01612387), 2013, p5
- ISSN
0161-2387
- Publication type
Article